The Financial Industry Regulatory Authority (FINRA) has sanctioned Denver, Colorado-based Geneos Wealth Management for its alleged failure to supervise its representatives disclosed outside business activities. FINRA alleged that Geneos failed to supervise the disclosed outside business activities of representatives in a certain branch office who participated in the execution of securities transactions, namely investments in the form of limited partnership interests. The firm also allegedly failed to record these activities in its official books and records. For this, they were censured and fined $12,500. Geneos Wealth Management was also sanctioned and fined twice in 2006 for unrelated transgressions. Geneos Wealth Management can be sued in the FINRA arbitration process for investment losses suffered. They can be sued to recover money for individual investors who have lost money.
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